I
n the crowded New York mayoral race, real estate heavyweights are making their bets clear. Former Governor Andrew Cuomo's campaign has taken off, with a slew of high-profile donors from the industry backing his bid. RXR Realty CEO Scott Rechler led the charge, contributing $250,000 to Fix the City, a super PAC supporting Cuomo, and an additional $2,100 directly to the former governor's campaign.

    Other notable real estate donors include Lightstone executives ($100,000), A&E's Douglas Eisenberg ($125,000), and Anthony Scarmucci's Skybridge Capital ($100,000). Several industry leaders also gave the maximum $2,100 to Cuomo's campaign, including Cammeby's Avi Schron, KRE Group's Jonathan Kushner, and Capstone Equities' Daniel Ghadamian.

    Cuomo's haul of $1.5 million in just two weeks is a significant advantage over his competitors. Assembly member Zohran Mamdani raised the second-highest amount, with $847,000, but received mostly small donations from residential and commercial brokers. City Council Speaker Adrienne Adams, who recently entered the race, managed to bring in $128,000 despite missing out on a month of fundraising.

    The real estate industry's support for Cuomo is not surprising, given his complicated yet enduring relationship with the sector. However, some developers are spreading their bets across multiple candidates. For example, Georgetown Companies' Adam Flatto donated $2,100 to Whitney Tilson, while Two Trees Management's Jed Walentas gave both Cuomo and Tilson $250.

    Despite being a top fundraiser, Mamdani has not attracted significant real estate donations, instead relying on small contributions from industry professionals. Meanwhile, Adams received support from the Real Estate Board of New York (REBNY), which donated $2,100 to her campaign through its PAC Taxpayers for an Affordable New York.

    The mayoral candidates' fundraising totals will be further influenced by public matching funds, with the city's Campaign Finance Board determining those amounts on April 15.